In view of the Company’s dual listing status, we adopt the MCCG and Singapore Code of Corporate Governance, as well as the disclosure obligations under the MMLR and the Mainboard Rules of SGX, where applicable, in all our communications. Please refer to pages 48 to 51 of this Annual Report for more about how the Company engages our key stakeholders and pages 119 to 121 of this Annual Report for our Investor Relations Report section on shareholder engagement. 2. Conduct of General Meetings AGM IHH regards accountability as a key value for our stakeholders, including shareholders. Shareholders are invited to attend or participate virtually at our AGM, which serves as the Group’s principal platform for meaningful dialogue between private and institutional shareholders with the Board and Management of the Group. This engagement also offers the opportunity for the Group to obtain constructive and valuable feedback from IHH’s shareholders. Before commencing the AGM agenda, shareholders are provided with comprehensive presentation on the Group’s business strategy, operational and financial performance for the year under review, as well as an overview of its strategic priorities moving forward. This accords our shareholders with a better understanding of the sustained growth trajectory of the business and returns on their investment. IHH highly values the feedback and input from our stakeholders, particularly our shareholders. Shareholders are encouraged to participate in the AGM proceedings and in instances where the AGM is conducted virtually, shareholders may pose questions real-time whilst the meeting is in progress. We ensure sufficient time is provided for shareholders to ask questions about the Group’s performance, and on any resolutions proposed, with the Board members and Management present to address concerns raised by them, ensuring an interactive platform for a transparent and meaningful dialogue. During the AGM, queries raised by the Minority Shareholder Watch Group (MSWG) on IHH’s business or other pertinent governance issues raised prior to the AGM, and feedback, are shared with all shareholders. All the questions posed by shareholders during the AGM were made visible to all meeting participants and answered by the relevant members of the Board or Senior Management at the virtual AGM for the benefit of all shareholders present. In addition, the results of the voting for each resolution are immediately announced after the voting and verification process by the independent scrutineers. The Notice and agenda of the AGM, together with the Form of Proxy, are given to shareholders at least 28 days prior to the AGM. This gives shareholders sufficient time to prepare to attend or appoint a proxy or proxies to attend and vote on their behalf. Each item of special business included in the Notice of AGM is accompanied by an explanatory statement for the proposed resolution to facilitate the full understanding and evaluation of the issues involved. The Chairman of the Board ensures that the AGM supports meaningful interactive engagement and robust discussions between the Board, Senior Management and shareholders. All Directors and Senior Management attend or virtually participate and are available at the AGM to address shareholders’ questions relating to functions and activities within their purview, unless other commitment precludes them from doing so. The minutes of the general meetings will be published on IHH’s corporate website no later than 30 business days after the conclusion of the general meeting. The shareholders also can channel feedback and pose questions to the Company via info@ihhhealthcare.com. The Company had leveraged the use of technology available by conducting its Thirteenth AGM on 30 May 2023 on a virtual basis entirely via Remote Participation and Electronic Voting (RPEV) facilities, pursuant to Section 327(2) of the Companies Act 2016 and Clause 78 of the Company’s Constitution. The electronic means of conducting the Thirteenth AGM on a virtual basis had facilitated and enabled shareholders to participate in the proceedings by audio and/or video capabilities without the need to be physically present at the meeting venue. Key Focus Areas and Future Priorities Moving forward, the Company will continue working towards achieving higher standards of corporate governance. To achieve this objective, the Board has identified the following key focus areas and future priorities in relation to the corporate governance practices. 1. Board Independence At the end of the financial year, the INEDs made up 50% of the Board comprising ten members (excluding one Alternate Director). The INEDs reinforce the objectivity and impartiality of the Board. The Board believes the current board composition provides the appropriate balance in terms of skills, knowledge, experience and independent elements to promote the interests of all shareholders and to govern the Group effectively. Presently, there is a proper check and balance provided by the INEDs and by the representatives of different shareholders. Additionally, there is no single largest shareholder who is controlling the Company through Board representation. The Board acknowledges that promoting good corporate governance practices is an ongoing process and, as such, the Board will continuously assess and implement relevant measures to enhance and safeguard the Board’s independence in the long term whilst simultaneously ensuring it remains dynamic and in line with the needs of the Group. Annual Report 2023 99
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